Binance has publicly identified and blacklisted several individuals and companies for pretending to be official “listing agents,” offering bounties as high as $5 million for information that helps stop this fraud.
The direct strike against a long-running scam aims to protect crypto projects from paying large fees for false promises of getting tokens listed on the world’s largest exchange.
A Clear Warning to Fraudulent Intermediaries
In a public notice shared by Binance co-CEO Yi He on X, the exchange warned projects to ignore anyone claiming to secure guaranteed listings in return for payment.
Yi He wrote that Binance is offering rewards “across the entire internet” to collect criminal evidence tied to fake listing activity, adding that valid tips could qualify for payouts as high as $5 million.
In the notice, Binance stressed that it does not recognize third-party intermediaries of any kind, pointing out that all listing applications must come directly from a project’s core leadership team through the exchange’s official portal. It added that any project found using an outside agent will be disqualified immediately and blocked from future applications.
The exchange also published a partial blacklist following an internal audit. Names on the list included entities such as BitABC and Central Research, alongside individuals like May (also known as Dannie), Andrew Lee, Suki Yang, Fiona Lee, and Kenny Z. Binance said these parties falsely claimed links to its listing team.
Blockchain reporter Colin Wu later stated that Central Research had invested in several projects, including Fireverse, Nebula Revelation, AKI Network, Fusionist, and Artyfact. Of those, only Fusionist’s ACE token has secured a Binance listing so far.
Crypto users on X welcomed the announcement, with one widely shared post from commentator Ai describing the update as “the darkest moment for wild listing intermediaries.” The influencer also praised Binance for laying out clear listing rules and an official submission route, rather than leaving projects to rely on rumors or backchannels.
The firm said whistleblowers should preserve evidence such as screenshots or recordings and submit them through its audit email channel, adding that it may pursue legal action against brokers confirmed to be involved in fraud.
Expansion and Scrutiny
This crackdown has come just as Binance is pushing to solidify trust and expand in crucial markets. In late November, the exchange switched attention to Indonesia, a top-ten global market for crypto adoption, adding 31 new trading pairs tied directly to the Indonesian rupiah (IDR) to make it easier for local traders to buy major coins.
The move also follows recent scrutiny of Binance’s security protocols. Earlier in the month, it drew criticism after freezing only a portion of assets requested by South Korean authorities following the November Upbit hack, a case that raised concerns about coordination between major platforms.
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